Australia’s robo-advisory pioneer Stockspot receives funding boost

Australia's robo-advisory pioneer Stockspot receives funding boost

Australia’s leading robo-adviser, Stockspot, is gearing up for a transformative phase in its journey, especially within the country’s digital investment sector.

While the exact amount of the investment was not disclosed, it is known that the major strategic backing comes from Mirae Asset Global Investments, a prominent global asset manager.

Established as Australia’s foremost robo-adviser, Stockspot has championed the cause of digital investment in the nation. The firm expertly integrates technological advancements with industry insights, delivering personalised investment strategies and premium client interactions. They’ve notably disrupted the traditional realm of wealth management, introducing transparent, low-cost portfolio management solutions powered by avant-garde technology.

The new influx of capital from Mirae Asset will propel Stockspot’s ambitions further, enhancing its state-of-the-art technology, broadening its expert team, and facilitating the creation of innovative products and services tailored for modern client needs.

Stockspot boasts an impressive record, currently managing over $650m for 13,000 clients. This achievement marks a staggering fivefold growth since its last capital raise in 2019.

Stockspot CEO Chris Brycki expressed his enthusiasm, saying, “We are thrilled to partner with Mirae Asset Global Investments, a renowned leader in the global financial services industry.

“This investment is a resounding validation of Stockspot’s vision to make investment advice accessible to all Australians and enable individuals to achieve their financial dreams. With Mirae Asset Global Investments’ support, we are poised to reshape the investment landscape and redefine how Australians approach wealth management.”

Mirae Asset’s Chairman and Global Strategy Officer, Hyeon-Joo Park, also shared his thoughts on the collaboration, noting, “We firmly believe in and continue to embrace digital transformation and technology as a means to provide investors with leading and highly accessible solutions.

“Stockspot’s commitment to transparency, technological excellence, and its investors aligns perfectly with Mirae Asset’s business philosophy to embrace the future with an open mind. Our investment supports Stockspot’s continued growth and ability to deliver quality investment and portfolio management outcomes for all investors.”

This recent funding follows Stockspot’s notable growth trajectory, having amplified its business five times since its previous capital acquisition in 2019.

Keep up with all the latest FinTech news here

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.